Management buyout at Armor

Orfite, a French industrial group, has bought out thermal transfer specialist Armor with the Armor management team, consisting of Hubert de Boisredon and six senior executives.

Orfite becomes the majority shareholder in Armor and, in collaboration with the management, is buying all the shares, taking over from the Rufenacht family.

The new team will take over all the projects and developments and believes that, despite the current difficult economic climate, growth will be guaranteed by the 40 million euros of investments made since 2005 and the decision to turn Armor into a sustainable development company. Armor is building a long-term industrial group worldwide.

The management team will benefit from the industrial and financial experience of Orfite who can boast sixteen years' experience in the acquisition of successful companies. Orfite is said to be confident in the management team and all the workers, emphasizing 'the quality of the management and of the industrial plant, and the privileged position of Armor in both its specialties'.